Even in death, he’s still the King of Pop.
Michael Jackson’s estate has reportedly signed a record-breaking recording deal with Sony Corp. that could be worth as much as $250 million.
The seven-year, 10-album deal guarantees Jackson’s heirs at least $200 million, The Wall Street Journal reported on its Web site last night.
Sony is touting the pact as a record, eclipsing Jay-Z’s $150 million deal with Live Nation.
Jackson’s new albums would feature previously unreleased songs and repackaged versions of existing ones.
His estate owns his recordings, but Sony had the right to distribute them until 2015. The new contract extends that to 2017.
It’s likely to cover expanded reissues of Jackson’s classic albums “Off the Wall” and “Bad.”
Sony has sold an estimated 31 million of Jackson’s albums since his death last June 25.
The deal is expected to help Jackson’s heirs pay off the heavy debts he accumulated in the last years of his life.